Pakistan Wants China to ‘Reprofile’ Debt to Help Support Reforms
- Goverment seeks nods from ‘partners’ for financial help
- Pakistan expects IMF board to approve package in August
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Pakistan has sought Chinese help to “reprofile” its debts with rollovers and maturity extensions to create more breathing room for economic reforms it’s seeking to enact under a new International Monetary Fund’s $7 billion loan program.
Discussed with central bank officials during a recent visit to Beijing was a proposal to extend the maturity of debt for nine power plants built by Chinese companies under the multi-billion dollar economic corridor, called CPEC, as well as that for an electricity transmission project, Finance Minister Muhammad Aurangzeb said at a news conference in Islamabad.